At Alpine Recovery Lodge, we never want money to stand between a patient and the treatment they need. Many of our patients have dual diagnoses of addiction and a mental health issue such as depression, bipolar disorder, or schizophrenia. Going without treatment is simply not an option for them.
That said, rehab is not inexpensive. An effective rehabilitation program requires input from doctors and therapists, and inpatient treatment provides patients with room and board and an array of individual and group therapy sessions to help them break their addictions.
We offer a variety of payment options that may be helpful, but we want to elaborate on the information on our site and give you the information you need to determine the ideal financing option for you.
Pay for Rehab With Insurance
The first option to consider is that your health insurance plan may cover all or part of the costs of your rehabilitation. The Affordable Care Act (ACA), which was signed into law in 2010, required that most individual and small group insurance plans cover basic mental health services, including preventive screenings. They are also required to provide some coverage for rehabilitative services.
As of July 2017, the future of the ACA hangs in the balance. Many in the Republican Party ran on a promise to “repeal and replace” the ACA, but as yet, they have not managed to pass a plan to do so. The delay and uncertainty can be nerve-wracking for those who rely on the ACA for healthcare.
We routinely deal with dozens of insurance companies on behalf of our patients. We have insurance specialists and billing experts on staff to ensure that you maximize your insurance benefits.
It is important to note that mental health benefits may be covered at a lower level than some other forms of health care. If that’s the case and you cannot afford your out-of-pocket expenses, one of our other financing options may help you deal with those costs.
Healthcare Savings Account
The next option to consider is using the money in your healthcare savings account (HSA) if you have one. These plans allow people to place money in a special holding account to be used to pay for medical expenses.
Many people choose these plans in conjunction with a high deductible insurance plan, knowing they can use the money in their HSA if they need it. These plans allow you to put money in on a pre-tax basis. If you withdraw money for something other than an approved medical expense, you’ll have to pay taxes. However, as long as you use the money to pay for a qualified medical expense, you will be able to use it tax-free.
Under most HSAs, treatment for addiction is considered an eligible expense, as are expenses for therapy and mental health care. If you have an HSA, you can let our specialists know about it so they can help you determine when and how to use it.
Financing Your Rehab
Sometimes, patients who come to us have limited insurance coverage and require assistance to pay the balance of the rehabilitation bill. That’s where our financing options come in.
We have close relationships with a number of banks and financial institutions. We can work with you to evaluate your insurance, determine how much it will cover, and help you obtain financing for the remainder.
Another option is to set up a payment plan for any portion that cannot be covered by insurance or financing. The costs may seem overwhelming, but it’s our job to make sure that you can get the care you need when you need it. We are happy to work with any patient or patient’s family to make sure that treatment is something you don’t have to be wealthy to afford.
Credit Card Payments
If you don’t have the capital to pay for rehabilitation services out of pocket and you don’t want to pursue financing options, then you may want to consider paying for all or part of your rehab using a credit card.
Credit card payments are secure and allow you to make monthly payments over time to pay off your outstanding balance. The downside of using a credit card to pay for rehabilitation is that the interest rates may be significantly higher than what you would get if you applied for financing through a bank or lender.
Your best bet if you decide to pay with a credit card is to use the card with the lowest interest rate. That way you can minimize any finance charges you have to pay. You can also consider rolling over other credit card balances onto a low-interest card to keep your monthly payments affordable.
A credit card payment may also be a stopgap measure while you wait for financing or other financial assistance.
Finally, you may also want to look into applying for a credit card that is specifically meant to help people pay for unexpected healthcare expenses. Typically, these cards have a lower interest rate than regular credit cards and may allow you to defer payments while you get back on your feet.
A New Way: Crowd Funding
The next option we want to share is certainly not a traditional one, but it can be a very effective way of getting the money you need to pay for rehabilitation treatment.
If you’ve spent any time on social media in the last few years, the chances are good that you have seen requests for donations through one of the popular crowdfunding sites such as GoFundMe.
These sites are easy to use, and they offer a creative way to raise money to pay for your rehab. They also allow the people who love you to provide help in some small way. It is common for the friends and family of people who struggle with addiction to feel helpless.
Most crowdfunding sites work like this:
- You sign up for an account, which is free, and walk through setting up a crowdfunding campaign.
- You choose a dollar amount that you wish to raise. Some crowdfunding sites require that you reach a fundraising goal to get the money people pledge, so make sure to read the fine print and understand what you are getting.
- Share the fundraising campaign via email and social media and ask people to make donations to help you as you seek treatment.
- Collect your money after paying a fee to the crowdfunding service.
Depending on your financial circumstances, you may want to attempt to raise more than the amount you require for rehab. For example, the money you raise through crowdfunding may help you make up for wages you lose while you’re in rehab. They can also be used to help offset expenses such as rent and utilities until you get back on your feet.
Other Rehab Payment Options
That covers the primary options available to you, but there are some other things that you may want to consider if the above choices don’t work.
- Borrow from a retirement account. If you have a 401K, IRA, or other retirement account, you may be able to withdraw money early to pay for some or all of your rehab. You’ll have to check your plan to see what the penalties are for early withdrawal, but this is one way to get the money you need without having to go into debt.
- Borrow from a friend or relative. This option might not be ideal, but for some people it can be less stressful than borrowing from a bank or financial institution. If your credit isn’t good or there is some other reason you think you might not be able to qualify for financing, this might be a good option. If you choose it, consider the deal a loan and write up paperwork to protect both parties.
- Liquidate valuable items to raise cash. While it’s certainly not the first choice for everybody, another option is to have an auction or private sale to convert some of your belongings into cash to pay for rehab.
Keep in mind that any of these options may be used alone or in conjunction with any other option. Most insurance companies do cover at least some rehabilitation expenses. Once you know what your plan will cover and what your out of pocket expenses will be, you’ll know how much additional money you need and can decide what to do to obtain it.
Conclusion: Rehab Cannot Wait
Raising money to pay for rehabilitation can be stressful, but we are here to help. The most important thing to remember as you move forward is that nothing matters more than your health. Right now, you might be wondering whether rehabilitation is worth the money. That’s understandable – but it’s also not the right question.
Ultimately, rehabilitation – for many patients – means the difference between a healthy and productive life and a life filled with regrets. When you seek treatment, you are also reclaiming your life… and believing that better days are ahead.
If you would like to learn more about our rehabilitation services, please click here.